<p>A "Living Trust" is a special legal entity that is created by preparing and executing a formal trust document, declaring a hold on certain property "in trust". A living trust is created for the purpose of holding ownership to an individual's assets during the person's lifetime, and for distributing those assets after death. Consumers should consult an attorney to determine the type of trust that would be best suitable for them.</p><br>

<p>A "Living Trust" is a special legal entity that is created by preparing and executing a formal trust document, declaring a hold on certain property "in trust". A living trust is created for the purpose of holding ownership to an individual's assets during the person's lifetime, and for distributing those assets after death. Consumers should consult an attorney to determine the type of trust that would be best suitable for them.</p><br>

Revision as of 20:53, 4 October 2010

LIVING TRUST

A "Living Trust" is a special legal entity that is created by preparing and executing a formal trust document, declaring a hold on certain property "in trust". A living trust is created for the purpose of holding ownership to an individual's assets during the person's lifetime, and for distributing those assets after death. Consumers should consult an attorney to determine the type of trust that would be best suitable for them.